The Pakistani government needs the support of Japan International Cooperation Agency (JICA) to improve climate, health, industrial and other economic sectors in Karachi, said Saleem H. Mandviwala, the federal investment minister, while speaking at an interactive session with a JICA delegation on Monday.
He hoped that the government and the Japanese agency would jointly address the problems faced by the citizens of Karachi. Mandviwala, also the chairman of the Federal Board of Investment, acknowledged that Japan has played an important role in the economic development of Pakistan. Japan is a major donor of commodity loans and economic assistance to Pakistan, he added. He lauded the efforts of the Japanese ambassador in Pakistan for bringing in investment to Pakistan.
A Japanese team in collaboration with the Board of Investment has been working for the last three months in Karachi to study the ways to improve the investment environment and find more such opportunities in Karachi, said Mandviwala.
For the development and economic prosperity of a country, foreign investment, transfer of technology, manpower and skill development was necessary, said Masaharu Sato, the Japanese consul general. “Better law and order situation, standard infrastructure and setting up of special economic zones in the country would attract foreign investment,” he added. Karachi Metropolitan Corporation Administrator Muhammad Hussain Syed, President Pak-Japan Business Forum Sohail Pervez Ahmed and chief representative of JICA also spoke at the session.
Published in The Express Tribune, August 8th, 2012.